Crypto.com Will Support the LBR Contract Migration

The migration is complete and users have received Lybra V2 tokens

Lybra Finance (LBR) will be launching Lybra V2, an upgrade to Lybra’s decentralised, LST-backed, interest-bearing stablecoin solution. Lybra V2 will come with a range of upgraded features, including omnichain functionality and an expanded range of LSTs as collateral. To achieve this, a contract migration from V1 to V2 will occur at a later date.

Crypto.com will support this upgrade, and Lybra V2 tokens will be sent to every user who currently has a LBR balance at a 1:1 ratio at a later date. It is recommended that you keep your LBR holdings in the Crypto Wallet in the Crypto.com App or Spot Wallet in the Crypto.com Exchange to ensure that the Lybra V2tokens are delivered directly to your respective accounts.

LBR deposits and withdrawals in the Crypto.com App and Crypto.com Exchange have been suspended on 8 September 2023. Spot trading of LBR will not be affected on either the App or Exchange.

As of 19 September 2023, the LBR Contract Migration is complete. Deposits and withdrawals of LBR have been resumed, and users with Lybra V1 tokens have now received Lybra V2 tokens at a 1:1 ratio.

Distribution Details for Crypto.com App Users

Crypto.com App users with LBR balances in their Crypto Wallet will receive the LBR V2 upon completion of contract migration. Please note that all pending transactions and open orders are excluded from this.

Distribution Details for Crypto.com Exchange Users

Crypto.com Exchange users with LBR balances in their Spot Wallet will receive the LBR V2 upon completion of contract migration. Please note that all pending transactions and open orders are excluded from this.

Crypto.com reserves the right in its sole discretion to amend, change, or cancel this announcement at any time and for any reason without notice.

We thank our users for your support and understanding.